![]() It's a question both of common sense and interpersonal skills. I still find analysing companies absolutely fascinating. While I am not a workaholic, I do work hard. I have always been willing to explore topics and to read research that has been overlooked by other people. ![]() However, there is also an element of hard work. Had a candidate better than I accepted the position at Fidelity, I would not have been given the chance to set up one of Europe's pre-eminent fund groups, and had I not done that I would undoubtedly have found it harder to gain support for my own businesses. Had I not worked at Scheslinger, I would probably not have been offered the job at Fidelity. As a multi-manager or fund of funds specialist, IMS helps clients by selecting a range of the best managers or funds for them to place their money with.Ī successful career in finance, as anywhere else, is largely based on chance. In 1999 I went on to form IMS, which today manages or advises over $3.5bn of funds. In 1997 I sold Fund Research, my main venture, to Standard & Poors, the ratings agency. It later became Edinburgh Portfolio and is now part of NewStar. ![]() In 1995 I sold half of one of them, Portfolio Fund Managers, a fund of funds. Leaving Fidelity was a big decision, but I wanted to set up my own businesses - three of them in fact - mainly helping investors select funds to invest in. When I decided to leave Fidelity International in 1989 we had become one of the UK and Europe's largest fund managers. I spent the following 10 years at Fidelity, where I built the UK and many of the international and pensions businesses, as well as starting operations in Europe, Australia, Canada and the offshore centres. This meant that when I was approached by a headhunting firm to set up and manage the international operations of Fidelity, a then little-known US fund manager, I accepted. At Schlesinger, we had identified the increasing attraction of overseas equities to UK investors. Working for Schlesinger left me well placed to make the next and defining move of my career. At that time, unit trusts were a budding growth area, and Schlesinger became the fastest growing of them all.įor once, you could say my appointment was due to more than coincidence: I had identified unit trusts as a product with potential and determined that they were something with which I wanted to work. In 1974, together with a former director of Rothschild, I was appointed managing director of Schlesinger Unit Trusts. My career didn't really take off until my mid-30s when, by chance, I became involved in unit trusts. So when I returned from New York I was something of a rare commodity and immediately found a job as research partner in a City stock broking firm.įrom research in brokerage I transferred to a research and fund management position at the age of 22. At that time, very few people in the City of London were trained in securities analysis. This was the first of several fortuitous career moves. My first job took me to New York, where I trained as a researcher and sat the only available exams - the New York Institute of Finance Diploma in Security Analysis. I began reading the Investors Chronicle at the age of 17 and inherited a very small share portfolio at 21. I chose to work in finance for two reasons: it would enable me to live in London and because I was interested in investing. I regret not studying history, but the absence of a degree has not hindered my career - even when, while I was chief executive, Fidelity International imposed a graduates-only recruitment policy for all employees! I began working in the UK in 1963 when I failed to gain a scholarship to read history at Oxford. This may seem strange to highly qualified students embarking on a finance career today, but I am not a university graduate. He says his career success is due as much to luck as anything else. Earlier, as managing director of Fidelity International, he set up Fidelity's fund management businesses in Europe, Australia, and Canada. Richard Timberlake is executive chairman of the fund manager Investment Manager Selection (IMS), a multi-manager specialist.
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